Park Ha Biological Technology sold 1,080,000 Class A ordinary shares at $2.75 each and raised approximately US $2,970,000, while issuing warrants for 1,845,452 shares. The proceeds are earmarked for Working Capital and corporate purposes, and the warrants are immediately exercisable at US $1.1 with a five-year term.

Key Highlights

  • The warrants are exercisable immediately and expire five years after issuance.
  • The securities were sold offshore to non-U.S. Persons under Regulation S and remain subject to transfer restrictions.
  • Raised approximately US $2,970,000 through a private placement.
  • Sold 1,080,000 Class A ordinary shares at $2.75 per share.

Park Ha Biological Technology Co. Ltd. (NASDAQ: BYAH) raised approximately US $2,970,000 through a private Placement that sold 1,080,000 Class A ordinary shares at $2.75 per share. The transaction also provides participating non-U.S. Investors with warrants covering 1,845,452 Class A ordinary shares.

Five-Year Warrants Accompany PIPE

The warrants can be exercised immediately after issuance and carry a five-year term. The Class A ordinary shares have a Par Value of US $0.008 per share. During the relevant distribution compliance period, transfers to U.S. persons are restricted unless registration or an available exemption applies. The Warrant terms include customary anti-dilution provisions for share dividends, splits and similar transactions. The securities purchase agreement and warrant documents also contain customary representations, warranties, covenants, agreements and indemnification obligations.